The sale of Cambridge Stud in 2018 marked the end of an era for husband and wife team Sir Patrick and Lady Justine Hogan who spent almost five decades creating and nurturing the internationally renowned thoroughbred nursery.
Established in 1975, Cambridge Stud became one of Australasia’s dominant breeding operations as the leading seller for 31 consecutive years at the National Yearling Sales and producing the winners of eight Melbourne Cups, four Cox Plates and three Caulfield Cups.
Announcing the sale to fellow Rich Listers Brendan and Jo Lindsay, Sir Patrick said there had been huge international interest in buying the property but he was determined to wait for the right time – and the right people – to continue the legacy.
“As we pass the ownership baton on, we know Cambridge Stud could not be in better hands. Everyone knows Brendan and Jo Lindsay are deeply passionate about both our industry and our country, and Cambridge Stud certainly holds a unique place in both. For Justine and me, this is a dream come true – we can look ahead with great confidence to the future that Cambridge Stud is assured through its new ownership.”
The sale price was not disclosed but the deal is understood to include 160ha of land along with 90 broodmares and foals and shares in the resident stallions Tavistock, Burgundy and Power. For his part, Lindsay said the Hogans were an inspiration to breeders worldwide. “We feel both proud and privileged to have the opportunity of helping to write exciting new chapters to the Cambridge Stud success story.”
Not that the Hogans are being lost to the racing industry, given a racing team of some 50 horses which still carry their familiar green-spotted colours.
A vocal supporter of NZ First’s racing policy, which advocated tax breaks for breeders, Sir Patrick and the party have come under scrutiny by the Electoral Commission for undisclosed advertising in the run up to the 2017 election.
At the age of 78, Sir Patrick is showing signs of physical wear and tear after handling horses from a young age. However, he and Lady Justine still have numerous business interests to keep them occupied. Included in a large property portfolio valued at more than $50m is a 153ha Cambridge dairy farm worth $11m, an $18m retail block in Te Awamutu and a $4m commercial office building in Dunedin.
Together since they were teenagers, and equal partners in business, Sir Patrick says Lady Justine was the best thing that ever happened to him. “I might have picked two champion stallions in Sir Tristram and Zabeel but they don’t equal the choice I made with Justine. She’s been beside me from the start.”